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Inspire, Lumenis, TLC Vision release second quarter earnings
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Three companies with a presence in the ophthalmic industry announced financial results for the second quarter of 2004 this week.
Inspire Pharmaceuticals, based in Durham, N.C., reported a net loss of $9.7 million for the second quarter of 2004, compared with a net loss of $6.6 million in the same quarter 1 year ago, the company announced in a financial release. Second quarter revenues of $2.9 million reflect the company’s co-promotion revenues from Elestat (epinastine) for the treatment of allergic conjunctivitis and Restasis (cyclosporine) for the treatment of keratoconjunctivitis sicca. Both drugs are co-promoted with Allergan.
Lumenis announced that its revenues for the second quarter of 2004 were $70.3 million, compared with $68.1 million for the second quarter of 2003. The company, based in Yokneam, Israel, posted a net loss for the quarter of $1.1 million, according to a press release. Lumenis restructured its sales and marketing agreements with WaveLight Laser Technology during the quarter but will continue to be the exclusive distributor of the Allegretto Wave laser for refractive surgery in China, Hong Kong, Taiwan and Japan, according to the press release.
TLC Vision posted net revenues of $64.7 million during the second quarter of 2004, an increase of 36% from $47.5 million in the second quarter 2003, the company announced in a press release. Second quarter total laser procedure volume was more than 51,600, according to the company. Customized LASIK procedures accounted for about 52% of center volumes during the quarter, the company said.